9911796707
TMI Blog2001 (7) TMI 50X X X X Extracts X X X X X X X X Extracts X X X X ..... short, "the Tribunal"), under section 256(1) of the Income-tax Act, 1961 (in short, "the Act"): "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that rental income of Rs.97,316 received by the assessee by the letting out of its godowns to Purolators (India) Ltd. was chargeable to tax in the hands of the assessee under the head 'Income from pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re, income was to be treated as income from house property. The matter was carried in appeal before the Commissioner of Income-tax (Appeals). Taking note of the fact that the business activities had ceased during the accounting year relevant to the assessment year 1971-72, the Commissioner of Income-tax (Appeals) upheld the views of the Assessing Officer. The matter was carried in further appeal b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the Tribunal, about the intention to revive or resume business activities and the godowns were constructed for business of manufacturing the pottery. Manufacture of pottery activities were totally stopped during the previous year ending June 30, 1970, relevant to 1971-72 and there was no revival till the assessment year in question and, therefore, a factual finding was recorded by the Tribunal ..... X X X X Extracts X X X X X X X X Extracts X X X X
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